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The Fed Decides Wednesday — Here's What It Means for Your Mortgage, the Loonie, and Your RRSP

  Monday, July 27, 2026 The U.S. Federal Reserve hands down its rate decision at 2 p.m. ET on July 29. For most Canadians it will feel like background noise. It isn't — here's the plain-language version of why it touches your mortgage, your cross-border spending, and whatever's sitting in your RRSP. The short version: Markets are pricing roughly a two-in-three chance the Fed holds its rate at 3.50%–3.75% on Wednesday. That's not the story. The story is that this is one of the least certain "sure thing" holds in years — and Chair Kevin Warsh's press conference at 2:30 p.m. ET could matter more than the decision itself. Why this meeting is different The Fed has held its benchmark rate steady at 3.50%–3.75% through every meeting so far in 2026. On paper, Wednesday should be more of the same. Under the hood, it's messier. Persistent inflation, running well above the Fed's 2% target for a fifth straight year, has kept a rate hike on the table. The oil-...
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Trump Escapes Prison and Fines in Hush-Money Case

In a landmark decision, President-elect Donald Trump has avoided any prison time or fines in the hush-money case that has captivated the nation. On Friday, Judge Juan Merchan handed Trump an unconditional discharge, sparing him from jail time, fines, or probation. This ruling makes Trump the first convicted felon to hold the White House.

Trump was convicted in May on 34 counts of falsifying business records to cover up a $130,000 payment to adult film star Stormy Daniels during his 2016 presidential campaign. Despite the potential penalties of up to four years in prison and $5,000 in fines for each count, the judge opted for an alternative sentence, citing the unique circumstances of the case.

During the hearing, Trump maintained his innocence and described the case as a "tremendous setback" for the justice system. The decision has sparked widespread debate, with some praising the judge's discretion and others criticizing the lack of tangible consequences for the president-elect.

Trump's legal team has indicated plans to appeal the jury's verdict, but for now, he remains a convicted felon as he prepares to take office on January 20.

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